TVL (total value locked) is the value of all assets users have deposited into DeFi protocols on a blockchain: lending, DEXs, yield, and more. The bigger the TVL, the more money is actually being used in that ecosystem.

Why can TVL rise without new money coming in?

TVL is counted in dollars, so it rises when the price of deposited tokens rises. Compare the TVL change with the change in the chain's token price: TVL rising faster than price means new money is coming in.

Where does the data come from?

From DefiLlama, an open TVL aggregator that counts each protocol separately and then sums them per chain, excluding liquid staking and without double counting. This page is updated every morning.

Blockchain Ranking by TVL

Which blockchains DeFi money is actually used on, and where it's moving. TVL per chain, market share, and changes, updated every morning. Not financial advice.

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FAQ

What is TVL?: TVL (total value locked) is the value of all assets users have deposited into DeFi protocols on a blockchain: lending, DEXs, yield, and more. The bigger the TVL, the more money is actually being used in that ecosystem.
Why can TVL rise without new money coming in?: TVL is counted in dollars, so it rises when the price of deposited tokens rises. Compare the TVL change with the change in the chain's token price: TVL rising faster than price means new money is coming in.
Where does the data come from?: From DefiLlama, an open TVL aggregator that counts each protocol separately and then sums them per chain, excluding liquid staking and without double counting. This page is updated every morning.